Matteo Salvini, Italy’s deputy prime minister and minister of infrastructure, has blamed the Agnelli family for Stellantis’ ongoing challenges. The company, struggling with weak sales and falling demand, recently saw its CEO, Carlos Tavares, abruptly resign.
The Agnelli family, Stellantis’ largest shareholder with a 14.2% stake held through their company Exor, also founded Fiat. Salvini argued that Stellantis’ woes stem more from its ownership than Tavares’ decisions as CEO. He criticized the company for relying on Italian state aid while shifting production abroad to reduce costs.
Despite Stellantis’ promise to avoid mass layoffs in Italy, production has repeatedly paused at Italian plants. In November, Reuters reported a planned furlough for workers at the Termoli plant from December 16 to December 22.
Stellantis’ Italian Identity Questioned
Stellantis, formed in 2021 from the merger of France’s PSA and Italy’s Fiat Chrysler, owns brands like Dodge, Vauxhall, Citroën, and Maserati. Salvini claimed the company no longer represents Italian interests despite receiving billions in state support.
Prime Minister Giorgia Meloni also criticized Stellantis’ French alignment and expressed concerns about Italian jobs. She accused Agnelli family heir John Elkann of neglecting Italy’s national interest. Meloni vowed to protect Stellantis employees from potential redundancies.
Salvini condemned Elkann for avoiding Italy’s parliament and blamed both Elkann and Tavares for mismanaging Stellantis.
Carlos Tavares’ Resignation
Tavares’ sudden resignation followed Stellantis’ struggles with declining demand, especially in North America. Differences with the board reportedly contributed to his departure, alongside U.S. plant layoffs and rising inventory levels.
Stellantis has not named a permanent CEO, appointing Elkann as interim leader. Speculation that Apple’s outgoing CFO, Luca Maestri, might assume the role was denied by the company.